Euro may fall further on Greek woes

The euro may fall as low as $1.25 by year end as Greece's fiscal crisis drives investors from the region, said Nomura Holdings's Jens Nordvig.

"The continued uncertainty about the resolution is triggering a medium term asset allocation shift away from euros," Nordvig, a Managing Director of currency research at Nomura Securities International in New York, said. "It's the longer-term players that are changing how they invest in the euro zone."